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Financial Accounting for Management, 5th Edition by Ambrish Gupta

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10

Depreciation on Fixed Assets

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Value of fixed assets keeps on reducing over their useful lives due to their use. This reduction, known as depreciation, is charged to profit and loss account. Depreciation has a significant bearing on the measurement of financial performance and position.

CHAPTER OBJECTIVES

This chapter seeks to enable you to develop knowledge and understanding of:

  1. Meaning and significance of depreciation.
  2. Scope and coverage of AS-6 on ‘Depreciation Accounting’.
  3. Principles and norms of standard accounting treatment of depreciation, methods of depreciation and other related issues.
  4. Impact of different methods of depreciation ...

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